Products & Services

Rate Information - The dividend rate until first maturity.

Compounding frequency -Dividends will be compounded annually.

Crediting frequency - Dividends will be credited to your account at maturity.

Dividend period - For this account type, the dividend period is annually.

Minimum balance requirements:
The minimum balance required to open this account is $1,000. You must maintain a minimum daily balance of $1,000 in your account each day to obtain the disclosed annual percentage yield.

Daily balance computation method - Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

^ back to top

Transaction limitations:
After the account is opened, you may not make additions into the account until the maturity date stated on the account.

You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You cannot withdraw dividends from your account before maturity.

Time requirements - Your account will be given a maturity date. Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity)

The penalty we may impose will be the greater of:

• seven days dividends on the amount withdrawn, or
• all dividends that have been earned not to exceed 90 days.

In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan.

• Non-automatically renewable account - This account will not automatically renew at maturity. If you do not renew the account, your funds will be placed in a dividend-bearing account.
  
• Automatically renewable account - This' account will automatically renew at maturity. You may prevent renewal if we receive written notice from you before maturity of your intention not to renew, you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. If you prevent renewal, dividends will not accrue after final maturity.

Each renewal term will be the same as the original term, beginning on the maturity date. The dividend rate will be the same we offer on new term share accounts on the maturity date which have the same term, minimum balance (if any) and other features as the original term share account.

You will have a grace period of ten calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty.

^ back to top